Subsequent Events (Details) - USD ($) |
1 Months Ended | ||
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Mar. 28, 2016 |
May. 31, 2015 |
Apr. 30, 2015 |
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Subsequent Event [Line Items] | |||
Price per share | $ 3.00 | $ 3.00 | |
Subsequent Event [Member] | Pro Rata Warrants [Member] | |||
Subsequent Event [Line Items] | |||
Shares issuable upon exercise of warrants | 1,750,000 | ||
Exercise price of warrants | $ 0.25 | ||
Subsequent Event [Member] | Fixed $0.25 Warrants [Member] | |||
Subsequent Event [Line Items] | |||
Shares issuable upon exercise of warrants | 1,000,000 | ||
Exercise price of warrants | $ 0.25 | ||
Subsequent Event [Member] | Fixed $2.50 Warrants [Member] | |||
Subsequent Event [Line Items] | |||
Shares issuable upon exercise of warrants | 1,000,000 | ||
Exercise price of warrants | $ 2.50 | ||
Subsequent Event [Member] | White Winston Select Asset Funds, LLC [Member] | Minimum [Member] | |||
Subsequent Event [Line Items] | |||
Common stock ownership threshhold percentage | 10.00% | ||
Subsequent Event [Member] | White Winston Select Asset Funds, LLC [Member] | Line of Credit [Member] | |||
Subsequent Event [Line Items] | |||
Line of credit facililty initiation date | Mar. 01, 2016 | ||
Line of credit facililty aggregate amount | $ 5,000,000 | ||
Line of credit facililty maturity date | Mar. 31, 2018 | ||
Line of credit facililty description |
The closing of the Master Credit Facility (the Closing) is subject to the receipt of required regulatory approvals. The Facility is issued at 97% of par value (the Debt Discount), with such Debt Discount deducted from the gross amount of the proceeds available under the Facility at Closing. White Winston shall make advances under the Facility provided that the aggregate principal amount outstanding under the Facility shall not exceed 75% of the then-outstanding balance of the Company's customer receivables (as defined in the Facility).
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Line of credit facililty interest rate | 8.00% | ||
Line of credit facililty covenant terms |
In addition, from and after the first anniversary of the date of the Facility and continuing until the Facility is repaid in full, the Company is required to pay an additional fee of 3.0% on the average daily unborrowed portion of the Facility.
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- Definition The threshhold percentage for ownership of common stock, above which nominees may be made to the board of directors. No definition available.
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- Definition Exercise price per share or per unit of warrants or rights outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Number of securities into which the class of warrant or right may be converted. For example, but not limited to, 500,000 warrants may be converted into 1,000,000 shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Description of the conditions for borrowing under the credit facility including the nature of any restrictions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Description of the terms of a credit facility arrangement. Terms typically include interest rate, collateral required, guarantees required, repayment requirements, and restrictions on use of assets and activities of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Date the credit facility terminates, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Date the credit facility first became available, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The effective interest rate at the end of the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Price of a single share of a number of saleable stocks of a company. No definition available.
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- Definition Detail information of subsequent event by type. User is expected to use existing line items from elsewhere in the taxonomy as the primary line items for this disclosure, which is further associated with dimension and member elements pertaining to a subsequent event. No definition available.
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